Which of the Following Statements About the Class System Is

question 108

Multiple Choice

Which of the following statements about the class system is incorrect?

• A) Status is based on access to and ownership of resources.
• B) The boundaries are more distinct than in a caste system.
• C) In part, the type of work one does determines one's class.
• D) Status comes at least partly through achievement.

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Definitions:

Oligopolistic

Oligopolistic refers to a market structure characterized by a small number of large firms dominating the market, leading to limited competition.

Marginal Cost

The extra expense derived from the production of an additional unit of a product or service.

Perfectly Competitive

A market structure characterized by a large number of firms selling identical products, with no single firm able to influence the market price.

Oligopolistic

Describes a market structure in which a few firms dominate the industry, leading to limited competition.